24) "income"20 includes20— (i) profits and gains20 ; (ii) dividend ; 21[(iia) voluntary contributions received by a trust created wholly or partly for charitable or religious purposes or by an institution established wholly or partly for such purposes 22[or by an association or institution referred to in clause (21) or clause (23)22a‚ or by a fund or trust or institution referred to in sub-clause (iv) or sub-clause (v) 23[or by any university or other educational institution referred to in
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Income Tax Act 1961 Assessment Year: The period of twelve months starting from April 1 of every year and ending on March 31 of the next year. Previous Year: Income earned in a year (Previous year) is taxable in the next year (Assessment Year). Income earned during the previous year (PY) 2011-12 is taxable in the Assessment year (AY) 2012-13. From the AY 1989-90 onwards‚ all assesses are required to follow the financial year April 1 to March 31 as previous year for all sources of income
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CHAPTER -1 NEWS AND CONCEPTS News is one of the best know commodities in today’s world news is selective version of world events with a focus on that which is new and unusual. The concepts of news must have existed even before the beginning of the era of mass media called personal news. The news and interesting information constitute news. News may be defined as any accurate fact or idea that will interest in a large number of readers. News has certain other ingredients
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What is Cost & Management Accounting Reporting Systems? Cost Accounting Reporting System deals with the process of tracking‚ measuring‚ recording and classifying the appropriate allocation of expenditure (financial and non-financial) for the determination of the cost of product or service in an organization and for the presentation of suitably arranged data for the purpose of control and guidance of management (Horngren et al‚ 2010). Costs are measured in terms of Direct Costs‚ Indirect Costs and
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discussed. Numerous academics Ali‚ J M (2005)‚ Adhikari and Tondkar (1992)‚ Saudagaran (1997) argue that adopting International Financial Reporing Standards (IFRS) would bring great benefits to society‚ such as comparability of statements between countries‚ progression and development of capital markets and communication and relationships between multinational companies. It has also been debated by some Blake (199O)‚ Nair and Frank (1981)‚ Nobes and Parker (2004 )‚ Arpan and Radebaugh (1985)‚ Deegan
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This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget‚ understanding and paying taxes‚ working with financial institutions‚ wise use of credit cards and consumer loans‚ financing automobiles and homes‚ and the use of insurance for protecting one’s family and property. Policies Faculty and
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creating and managing his new company‚ Teton Mountaineering (TM)‚ which is based out of a small town in Wyoming. In the process of doing so‚ TM has acquired various types of assets. Below is a list of assets acquired during 2010: Asset Cost Date Place in Service Office equipment $10‚000 02/03/2010 Machinery $560‚000 07/22/2010 Used delivery truck* $15‚000 08/17/2010 *Not considered a luxury automobile‚ thus not subject to the luxury automobile limitations During 2010‚ TM had huge success (and had
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and the changing technology of political reporting affected its quality and availability? Over the last decade there has been a significant change in the way in which the media industry reports political news to their audience. With newspaper popularity decreasing‚ the computer and television industry are gaining larger audiences at a fast rate. Therefore‚ this rise of new media has made news reporting quicker and more accessible to readers through the use of technology such as; the internet‚ twenty
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Financial Statement Analysis April Cruz‚ Litesha Forbes‚ Phillip Gibson‚ Jessica Hewlett‚ Lily James‚ Velda Justin‚ and Nzingha Reel ACC/561 September 27‚ 2010 Mark Tischler Financial Statement Analysis The accounting information of this paper provides a financial statement analysis for three distinct companies: Mercedes Benz‚ a foreign manufacturer of vehicles; Macy’s Inc‚ a retail department store‚ and American Airlines‚ an airline company. The analysis for each company
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Ethically Responsible and Irresponsible News Reporting Ethically responsible is a theory that goes with the premise that equality should prevail in society and that society should respect each other ’s human rights and in return will preserve the dignity and respect of each other and other members of society. Objectivity in reporting also adds to the theory of ethics because objective reporting is a concept that journalists should report without bias and should remain neutral in all circumstances
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